Guardian Holdings Ltd.(GHL) – Succession of CEO

Mr. Peter Ganteaume will on June 30th, 2006 retire as Group CEO of the multi-national financial services corporation that he has guided over the last six years. The Board has identified a CEO-designate, that is Mr. Rory O’Brien, who is a Certified Accountant (ACCA), one of the very few who gained industry experience working in a professional actuarial practice, Bacon & Woodrow U.K. Mr. O’Brien will join GHL in September 2005 as CEO-designate working closely with the Executive Team. He will assume the position of Group CEO on July 1, 2006. Mr. Ganteaume will continue to serve as a non-executive Director of GHL and as a Chairman of Guardian Asset Management Ltd. and Nemwil Holdings (Gibraltar) Ltd, the parent of GHL’s UK and European general insurance companies.